Investment objective & strategy
As of Nov. 28, 2025 · prospectusObjective. Nomura Corporate Bond Fund seeks to provide investors with total return.
Strategy. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in corporate bonds (80% policy). The Manager focuses on corporate bonds that have investment grade credit ratings from a nationally recognized statistical rating organization (NRSRO). The bonds the Manager selects for the portfolio are typically rated BBB- and above by Standard & Poors Financial Services LLC (S&P), Baa3 and above by Moodys Investors Service, Inc. (Moodys), or similarly rated by another NRSRO. The Manager may also invest in unrated bonds if it believes their credit quality is comparable to those that have investment grade ratings. The Fund may also invest up to 20% of its net assets … Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in corporate bonds (80% policy). The Manager focuses on corporate bonds that have investment grade credit ratings from a nationally recognized statistical rating organization (NRSRO). The bonds the Manager selects for the portfolio are typically rated BBB- and above by Standard & Poors Financial Services LLC (S&P), Baa3 and above by Moodys Investors Service, Inc. (Moodys), or similarly rated by another NRSRO. The Manager may also invest in unrated bonds if it believes their credit quality is comparable to those that have investment grade ratings. The Fund may also invest up to 20% of its net assets in high yield corporate bonds (junk bonds). In addition, the Fund may invest up to 40% of its total assets in foreign securities, but the Funds total non-US-dollar currency exposure will be limited, in the aggregate, to no more than 25% of net assets. The average portfolio duration of the Fund will generally vary within two years (plus or minus) of the current average duration of the Bloomberg US Corporate Investment Grade Index, which as of December 31, 2024, was approximately 6.75 ?years. Duration measures a bonds sensitivity to interest rates by indicating the approximate change in a bond or bond funds price given a 1% change in interest rates. The 80% policy is nonfundamental and may be changed without shareholder approval. Fund shareholders would be given at least 60 days notice prior to any such change.
Top holdings
As of Jan. 30, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| LEIDOS INC REGD 5.40000000 | LDOS | $13.45M | 1.32% |
| VICI PROPERTIE | — | $12.89M | 1.27% |
| JBS USA/FOOD/FIN | — | $12.26M | 1.21% |
| ORACLE CORP | — | $11.70M | 1.15% |
| ENTERGY MISSISSI | — | $9.79M | 0.96% |
| MORGAN STANLEY | — | $9.69M | 0.95% |
| JPM V6.254 10/23/34 | JPM | $9.27M | 0.91% |
| Hyundai Capital America | — | $9.17M | 0.90% |
| TIME WARNER CABL | — | $9.09M | 0.89% |
| NORTHWESTERN MUTUAL GLOBAL FUNDING | — | $9.06M | 0.89% |
Portfolio moves
Oct 31, 2025 → Jan 30, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Nomura VIP Corporate Bond Series | 71% | 0.78% |
| Nomura VIP Investment Grade Series | 68% | 0.63% |
| Nomura Extended Duration Bond Fund · DEEAX, DEECX, DEERX, DEEIX, DEZRX | 27% | 0.48% |
Advisers
| Firm | Role |
|---|---|
| Macquarie Investment Management Business Trust | Adviser |
| Macquarie Investment Management Global Limited | Sub-adviser |
| Macquarie Investment Management Europe Limited | Sub-adviser |
| Macquarie Investment Management Austria Kapitalanlage AG | Sub-adviser |
Footnotes
- Expense ratio as of November 28, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 30, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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